What was the approximate annual growth rate of the agriculture sector during 1991-2012, after the initiation of reforms?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → 3%
After the reforms, growth in agriculture slowed down to about 3 per cent a year during 1991-2012. This was lower than in the earlier years.
NCERT (2026-27): “5.2 What Is Rural Development? … It was observed in an earlier chapter that although the share of agriculture sector’s contribution to GDP was on a decline, the population dependent on this sector did not show any significant decline. Further, after the initiation of reforms, the growth rate of agriculture sector decelerated to about 3 per cent per annum during the 1991-2012, which was lower than the earlier years. In recent years, this sector has become volatile. During 2023-24, the GVA growth rate of agriculture and its allied sectors was about two per cent. Scholars identify decline in public investment since 1991 as the major reason for this. …” |